Today, the US Non-Farm Report for May showed that 280K jobs were added to the economy in the month. This beat forecasts around 222K and the April print of 221K. The market has been putting on USD strength as we approached the key economic release and continued to do so after the strong data point. The EUR/USD is falling after a sharp bullish swing last week. EUR/USD 4H Chart 6/5(click to enlarge) The 4H EUR/USD chart shows the pair falling below 1.12 after the NFP release. IT is now approaching the 1.10 handle, which will be key. A break below 1.10 will likely signal a bearish continuation for EUR/USD in the medium-term. However, a hold above 1.10 followed by a return above 1.11 could revive the uptrend at least in the short-term. The short-term uptrend outlook still fits into the medium-term bearish outlook, which has shifted to a more neutral, consolidation/corrective mode. EUR/USD Daily Chart 6/5 (click to enlarge) In the daily chart we can see the shift from a bearish to a sideways market. If price action remains in corrective mode, there is upside risk towards the 1.18 handle, near the 200-day SMA. However, if price falls below 1.10, we are likely looking back towards the lows on the year between 1.0468-1.0520